A Napier Hotel Mortgage
Sir, —There appears to be some misunderstanding regarding an advance of £21,000 on first mortgage to rebuild the Masonic Hotel, Napier. I stated in the House that the money was advanced by the State Advances Office, acting for the Hawke’s Bay Rehabilitation Committee. Perhaps I was not sufficient explicit. The money was lent out of the special fund of £1,250.000 authorised under the Hawke’s Bay Earthquake Act "for rehabilitation purposes, and formed no part of the funds of the State Advances Office. Mortgages to secure loans under this Act are for convenience sake taken in the name of the State Advances Superintendent. Not one penny has come from the funds of the State Advances Office; the money advanced was earthquake-restora-tiou money.—l am, etc., W. E. BARNARD. M.P., Napier. October 27.
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Bibliographic details
Dominion, Volume 26, Issue 29, 28 October 1932, Page 13
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134A Napier Hotel Mortgage Dominion, Volume 26, Issue 29, 28 October 1932, Page 13
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